Private Equity in Real Estate

Our Real Estate Investments Expertise

Nishith Desai Associates (NDA) has been recognized internationally for its specialization in structuring real estate funds and advising on real estate investments from a legal, tax and regulatory perspective. We have advised a significant number of offshore and domestic funds including private equity funds, foreign institutional investors, real estate funds (REITs), mutual funds and hedge funds in connection with their investments in India. Our focus on international tax and our understanding of the legal and tax regime for funds in other jurisdictions have enabled us to be at the cutting edge of structuring offshore and domestic funds. Our global network with overseas counsel helps us identify appropriate overseas counsel who can represent the fund's interests in those jurisdictions. Our independence allows us to work with all service providers, thereby enabling easy integration with a client's existing support eco-system.

Our research based approach and internal trend assessment procedures have led us to study this sector in great detail, and facilitated the development of our product offerings in this segment. Ever since the Government of India began relaxing regulations to attract foreign investments in the Indian real estate sector, we have been in the forefront advising clients in setting up real estate funds, and advising them on the Indian tax, corporate and exchange control implications.

We have today earned a reputation for developing innovative structures, obtaining favorable rulings from Government, regulatory and tax authorities and assisting clients achieve their business objectives. We have also helped in developing structures for mezzanine and debt funding for real estate projects to meet with the relatively complex legal, regulatory and tax environment surrounding the sector and especially exchange controls, and continue to advise real estate funds/entities with respect to their listings on overseas exchanges like AIM, Jersey, London Stock Exchange, Singapore, etc.

We also advise fund clients on the legal and tax structuring and documentation of their downline investments in the real estate sector.

In addition to presenting papers at international and reputed seminars and conferences, our Real Estate team has an established track record of publishing thought leadership articles in this space. Our research on 'Real Estate Fund Investments' has been extremely well received. Other specific papers in the context include a detailed report on 'Doing Business in India', 'Globalization', 'Joint Ventures in India' and several other incisive and detailed analyses on law and industries. Our hotlines are newsletters on contemporary subjects of interest to the legal and business fraternity and are extremely popular and topical.

We are ranked in Band 1 by Chambers and Partners for the real estate practice (2011). Legal 500 (Asia-Pacific) 2009/10 has specifically recognized Siddharth Shah, Partner in charge of the Real Estate practice as "….particularly recommended by clients" for real estate. Nishchal Joshipura, head of our Real Estate Investment practice has been recommended by PLC Which Lawyer? 2009 for the real estate practice.

Scope of Services

Advise related to the creation of a suitable structure for real estate funds from an Indian legal, tax and regulatory perspective, and undertaking related documentation

Advising domestic and offshore clients on all corporate and tax related matters related to down line investments in the real estate sector

We have represented companies such as Amazon, NetLogic, OmniCell, EFI, SVB, NVidia and Business Objects in leasing of office space, which included negotiations, managing due diligence on title, and drafting and review of the relevant documentation.

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